Does Wingspan's user base exhibit a network effect and promote the platform?

It's relatively early, but we're absolutely seeing that. 

Three of our corporate customers recently sent out a joint press release about working with Wingspan, and how it’s providing a better experience for them because they see this as a really valuable recruiting and retention tool. We’re seeing companies add it to their job descriptions too.

Also, once you go through onboarding once, you don't have to go through onboarding again. We're seeing companies inviting folks to get paid and they’re already on the platform so the reduction of admin work starts compounding. For instance, their background checks might already be in place.

This motion becomes a flywheel for us, because we have the individual experience, we see a lot of individuals start invoicing out to their clients. We have a unique payment gateway that opens up the ecosystem a lot. Even Upwork or various platforms can start depositing money directly. We automatically create invoices for both sides for tracking purposes. 

We are seeing expansion of these opportunities over time—both network effects and virality. 

The network effect side is that folks don't need to provide their W-9s to all of their clients on Wingspan because it's all automatically created, so that gives them operating leverage. 

The virality side is that once you're on Wingspan, it's really easy to get paid, and the invoice becomes a nice growth mechanism. And on average, our freelancers are invoicing—on a trailing kind of four or five week basis—four to five different clients. Usually they're working with anywhere between four to sixteen clients per year, throughout the year's lifecycle.